CBRE recently represented Chicago Trading Company (CTC) in a 114,186-square-foot renewal and expansion at 425 Financial Place in Chicago. The transaction marks an impressive 26,768-square-foot expansion for CTC, making it the third largest lease of the second quarter and the seventh largest lease of 2018 thus far, according to CBRE.
Mark Keebler and Brad Serot of CBRE represented CTC, one of Chicago’s most successful and innovative trading firms, in the transaction. Mike Curran of JLL represented the landlord of 425 Financial Place.
“This is a sizable deal that underscores CTC’s commitment to sustaining the core of its thriving business within the Chicago business community,” said Keebler. “After an extensive evaluation of the market, CTC determined that 425 Financial Place offers the best opportunity to expand its operations. With CTC in place as the marquee tenant and the improvements that ownership plans for the building, this move will undoubtedly help reposition the asset as one of Chicago’s top properties.”
New ownership has committed to investing significantly into the property, formerly known as 440 S. LaSalle Street, to upgrade amenities and improve common areas. With the new lease, CTC will incorporate several upgrades and reconfigurations to its current space to accommodate future growth. CBRE’s project management team will be handling the assignment.
“Our expansion, in combination with 425 Financial Place’s commitment to upgrade building amenities and improve common areas, will position our firm to attract and retain the premier, diverse talent needed to fuel continued success [for] years to come,” said Mike Allara, CTC’s chief financial officer.
Founded in 1995, CTC is a highly analytical, team-oriented proprietary trading firm that employs a dynamic, disciplined-approach to trading across a variety of products and strategies.